INDUSTRIAL DRYER MARKET ANALYSIS

Industrial Dryer MarketSize and Trends

Market Overview

 Industrial dryers are used to effectively process large quantities of bulk materials that require reduced moisture levels. Industrial dryers are available in different sizes depending upon the amount of material needing to be dried. Generally, dryers function on two principles namely direct drying and indirect drying whereas various types of dryers are available in the market including a flash dryer, rotary dryer, spray dryer, and fluidized dryer. Industrial dryers find applications in various sectors including pharmaceutical, food, chemical, mining & minerals, constructions, etc. Other types of dryers are also available such as paddle dryers that are used where maximum heat transfer is required.

The global Industrial Dryer Market was accounted for US$ 2,929.7 Mn in terms of value and 2,648 units in terms of volume in 2019 and is expected to grow at CAGR of 3.5% for the period 2020-2027.

Market Dynamics- Driver

1. Rising demand from pharmaceutical and food sectors is expected to drive growth of the global industrial dryer market during the forecast period

The quality of the product in the pharmaceutical industry is a major concern. This is also important due to strict government regulations over product quality and its specification in food and pharmaceutical industry. Generally, products in the industries are heat sensitive that require suitable devices for drying process. The technologically advanced industrial dryers such as vacuum dryers and fluidized bed dryers are suitable equipment for drying operation in food and pharmaceutical industry. Moreover, these dryers are suitable for other unit operations such as purification and separation involved in the industry. Thus, high growth of the pharmaceutical and food sectors is expected to drive growth of the global industrial dryer market in the near future. According to Coherent Market Insights’ analysis, there are over 450 projects in the pharmaceutical industry and over 300 projects in the food industry that are expected to be completed in the near future.

2. Increasing application of dryers in various sectors is expected to propel the global industrial dryers market growth over the forecast period

Industrial dryers have witnessed a massive demand from various industry including healthcare, chemical, mining & minerals, constructions, etc. Different types of industrial dryers are used such as vacuum dryer in biological products and food sector, fluidized bed dryer in fertilizer, pesticides, and ceramics, sprayer in antibiotics, vitamins, and catalyst support, and rotary dryers in fertilizers, waste sludge, limestone, plastics, and chemicals. Hence, the wide use of dryers is expected to propel the global industrial dryer market growth over the forecast period.

Statistics:

Asia Pacific region is expected to dominate the global Industrial Dryer Market in 2019, accounting for 31.7 % share in terms of value, followed by North America, Europe, Middle East and Africa and Latin America.

Figure 1: Global Industrial Dryer Market Share (%) in Terms of Value, By Region, 2019

Market Trends

1. Rising adoption of superheated steam dryers is a major adoption

Superheated steam dryers have witnessed significant massive adoption with industries demanding standards for intended drying applications. Higher operating costs associated with conventional drying processes resulted in growing emphasis on either improving drying process economics or on the development of alternative lower-cost processes. For instance, the GEA group offers Superheated Steam Dryer & Processor for drying of oilseeds, beans, and proteins. Also, BMA AG offers a fluidized-bed steam dryer for drying of biomass, which can recover 90% of energy.

2. Market consolidation activities worldwide

Major companies in the market are focused on merger and acquisition activities, in order to enhance the market presence. For instance, in June 2016, ANDRITZ AG acquired Euroslot KDSS, including its two subsidiaries in China and India, which are involved in manufacturing of separation and filtration equipment. Moreover, in November 2016, HEINKEL Drying and Separation Group announced expansion of two of its workshops in Foshan, China, in order to increase its presence in the APAC market.